Key Short Interest in Casinos (BYD, CZR, LVS, MPEL, MGM, PENN, WYNN)

You have probably seen that the casinos have sold way off of their highs as the economy has softened. Las Vegas gambling revenues were lower in recent data and word of a slowing in gambling has made its way out of places like Macau as well.

So what did the short sellers do in the latest look at the short interest? We have taken the data from the July 31 settlement date and compared it to the July 13 settlement date. If applicable, color on prior periods has been added as well.

Boyd Gaming Corp. (NYSE: BYD) saw a gain in the short interest to 10.69 million shares, versus 8.939 million shares on July 13. This is the largest short interest in two months.

Caesars Entertainment Corp. (NASDAQ: CZR) is still hard to short due to the size of the float. That being said, the short interest has risen month after month. The July 31 short interest was 3.579 million shares, versus 3.074 million shares short as of July 13. This was the ninth consecutive rise in the reported short interest for Caesars.

Las Vegas Sands Corp. (NYSE: LVS) saw a slight bump up in the July 31 settlement date’s short interest. This was 10.84 million shares short, versus 10.78 million on July 13 and is in-line with the 10.877 million shares short as of June 29.

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) saw a drop in the short interest to 10.136 million shares as of July 31. The July 13 short interest was 12.099 million shares, but this was well down from an earlier peak of 14.75 million shares short back on June 15.

MGM Resorts International (NYSE: MGM) saw a jump to 29.96 million shares in the short interest, versus 24.07 million shares short on July 13.

Penn National Gaming Inc. (NASDAQ: PENN) was down slightly in its short interest at 4.13 million shares as of July 31 versus 4.398 million shares short on July 13. All in all, this one has not changed much.

Wynn Resorts Ltd (NASDAQ: WYNN) saw a large gain in the short interest, but the share count still remains somewhat low compared to peers due to that $100-ish share price. The July 31 short interest was 4.61 million shares, versus 3.853 million shares short as of July 13. Be advised that this is actually the highest nominal short interest since January 13, 2012.

JON C. OGG